DEBT AND OTHER FINANCING ARRANGEMENTS (Tables)

12 Months Ended

Jul. 01, 2017

Sysco’s debt consists of the following:



	Jul. 1, 2017			Jul. 2, 2016
	(In thousands)
Commercial paper, interest at 1.42% as of July 1, 2017	$	119,691		$	—
Senior notes, interest at 5.25%, maturing in fiscal 2018 ⁽¹⁾	500,311			506,456
Senior notes, interest at 1.90%, maturing in fiscal 2019 ⁽¹⁾	491,260			502,151
Senior notes, interest at 5.375%, maturing in fiscal 2019 ⁽¹⁾	249,456			249,141
Senior notes, interest at 2.60%, maturing in fiscal 2021 ⁽¹⁾	739,239			762,227
Senior notes, interest at 2.50%, maturing in fiscal 2022 ⁽¹⁾	488,554			506,484
Senior notes, interest at 2.60%, maturing in fiscal 2022 ⁽¹⁾	445,853			445,026
Senior notes, interest at 1.25%, maturing in fiscal 2023 ⁽¹⁾	566,767			552,391
Senior notes, interest at 3.75%, maturing in fiscal 2026 ⁽¹⁾	746,288			746,023
Senior notes, interest at 3.30%, maturing in fiscal 2027 ⁽¹⁾	991,370			990,603
Debentures, interest at 7.16%, maturing in fiscal 2027 ⁽²⁾	50,000			50,000
Senior notes, interest at 3.25%, maturing in fiscal 2028 ⁽¹⁾	742,526			—
Debentures, interest at 6.50%, maturing in fiscal 2029 ⁽¹⁾	223,822			223,716
Senior notes, interest at 5.375%, maturing in fiscal 2036 ⁽¹⁾	497,089			496,932
Senior notes, interest at 6.625%, maturing in fiscal 2039 ⁽¹⁾	248,396			244,655
Senior notes, interest at 4.85%, maturing in fiscal 2046 ⁽¹⁾	495,552			495,395
Senior notes, interest at 4.50%, maturing in fiscal 2046 ⁽¹⁾	493,981			493,897
Notes payable, capital leases, and other debt, interest averaging 6.14% and maturing at various dates to fiscal 2026 as of July 1, 2017 and 3.12% and maturing at various dates to fiscal 2025 as of July 2, 2016	104,735			170,305
Total debt	8,194,890			7,435,402
Less current maturities of long-term debt	(530,075		)	(8,909		)
Less notes payable	(3,938		)	(89,563		)
Net long-term debt	$	7,660,877		$	7,336,930


⁽¹⁾	Represents senior notes that are unsecured, are not subject to any sinking fund requirement and include a redemption provision that allows Sysco to retire the debentures and notes at any time prior to maturity at the greater of par plus accrued interest or an amount designed to ensure that the debenture and note holders are not penalized by the early redemption.


⁽²⁾	This debenture is not subject to any sinking fund requirement and is no longer redeemable prior to maturity.

Long-term debt principal payments for the next five years table

As of July 1, 2017, the principal payments required to be made during the next five fiscal years on long-term debt, excluding notes payable and commercial paper, are shown below:



	Amount
	(In thousands)
2018	$	529,579
2019	774,138
2020	23,862
2021	762,906
2022	956,420

Interest expense for fiscal 2016

Interest expense for fiscal 2016 includes the following amounts from these transactions:



	53-Week Period Ended Jul. 2, 2016
	(In thousands)
Redemption premium payment	$	50,000
Debt issuance cost write-off	28,642
Bond discount write-off	17,869
Gain on swap termination	(10,051		)
Loss on extinguishment of debt	86,460
Interest expense on senior notes	8,375
Total	$	94,835